Joby Aviation's Busy Week: Q2 Beat, Raised Guidance, New Texas Hub

Joby Aviation Inc. (NYSE: JOBY ) had a busy week last week that included second-quarter financial results and a new Texas facility supporting the company’s upcoming eVTOL flight program. Joby Aviation stock is among today’s weakest performers. Why is JOBY stock falling? Q2 Financial Results Joby reported second-quarter adjusted EPS of a loss of 25 cents, missing the consensus estimate of a loss of 23 cents. Revenue came in at $38.64 million, beating the consensus estimate of $30.38 million. The company highlighted first eIPP flights expected in September in Texas, targeting first passengers in 2026, along with what it called its strongest quarterly progress yet in the fifth and final stage of FAA Type Certification. Five aircraft are currently flying, with 12 more in production as the manufacturing ramp continues. The company’s Blade unit generated $36.2 million in s...